With over a decade of experience in multi-family property management, I realized it was time to use that expertise to transform the single-family property management industry. Over a year ago, I set out to redefine what third-party single family home management should look like—focused on improving the client experience and lowering costs for homeowners and investors.
After seeing the industry consistently fall short of my expectations, I knew there was a better way. Let’s be honest, traditional property management fees can quickly add up and eat into your profits. Here's a breakdown of the typical fees you might encounter with a standard property management company:
Typical Property Management Fees:
- Startup Fee: ½ month to a full month’s rent, for administrative setup like software, photos, and marketing prep.
- Leasing Success Fee: ½ month to a full month’s rent for securing a tenant.
- Maintenance Oversight Fee: A 10-15% markup on repairs and maintenance for oversight and time.
- Project Management Fee: For larger projects (usually over $5K), expect a 15-25% markup on project costs.
- Monthly Management Fees: Typically 10-15% of gross monthly rent, though I’ve seen this rise to as high as 20%.
- Note: Most companies charge this fee even when your property is vacant
- Renewal Fee: ½ month to a full month’s rent to renew a tenant’s lease.
- Annual Inspections: Markups on inspection fees, sometimes called a preventative maintenance program.
- Monthly Admin Fee: Often under $50/month for utility rebilling, maintenance programs, or just another hidden cost.
With property taxes, interest rates, and insurance costs rising, I noticed many owners—especially those with one to three properties—were netting losses with all of these fees. While real estate is a great long-term investment, I wanted to see those owners net positive monthly gains now and be the change the single-family property management industry needed. So, here’s what we charge at WH Realty Company:
WH Realty Company Fees:
- Startup Fee: No startup fee.
- Leasing Success Fee: No leasing success fee.
- Maintenance Oversight Fee: None. We don’t mark up maintenance costs—what you pay is the actual cost.
- Project Management Fee: Large projects are discussed case-by-case, with transparent agreements before project starts. Fees will never exceed 8%.
- Monthly Management Fees: Sliding scale based on each owner's financial situation, but never exceeding 8.75%.
- Renewal Fee: $150 after a lease renewal is signed and active.
- Annual Inspections: No markup—just the true cost.
- Monthly Admin Fee: None.
I’m in this for the long-term relationships and to show owners what property management should really be about. I’ve eliminated the junk fees and made the process more transparent than ever before.
Ready to work with a property management company that values your investment as much as you do? Let’s get started!
-Brandi Wright, The Real Estate Shark
